Content overview: “ABA Slams OCC GENIUS Stablecoin Rules, Says Yield Ban 'Undermines' Congress”. The American Bankers Association (ABA) is pushing back against the Office of the Comptroller of the Currency's finalized rules implementing the GENIUS Act, arguing that the agency's prohibition on interest-bearing stablecoins oversteps its authority and contradicts congressional intent. In a statement, the ABA said the OCC's interpretation 'undermines' the U.S. Congress by effectively rewriting key provisions of the stablecoin law.
The dispute centers on whether stablecoin issuers can pay yield to token holders—a feature the ABA says the statute permits but the OCC has banned. Banking groups warn that the rule could stifle innovation and drive stablecoin activity offshore or into less-regulated sectors. The clash highlights broader tensions over how federal regulators should treat digital assets, with banks seeking a level playing field against nonbank stablecoin issuers. The full version stays on the original page, which this listing opens directly.